Even After Admitting She Underestimated Inflation, Yellen Still Doesn’t Understand What It Is – OpEd

By Frank Shostak*

According to the June 1, 2022, Financial Times, Janet Yellen, the US Treasury secretary conceded she was wrong last year about the path inflation would take.

Yellen told CNN: “There have been unanticipated and large shocks to the economy that have boosted energy and food prices and supply bottlenecks...